Muscat, 19 November 2020
Bank Muscat, the leading financial services provider in the Sultanate of Oman, has won two more prestigious awards at Asiamoney Middle East's Best Bank Awards 2020. The bank won these awards for the Best Domestic Bank 2020 (Oman) and the Best Corporate and Investment Bank 2020 (Oman). These awards are a recognition of Bank Muscat’s outstanding contributions to the Sultanate’s banking sector across all customer segments. The evaluation was conducted based on a number of criteria, including the product mix, financial performance, asset and revenue quality, customer satisfaction, IT systems and offerings.
Ahmed Faqir Al Balushi, Chief Corporate Banking Officer, Bank Muscat, said: “In line with our Vision, “To serve you better, everyday”, our commitment of providing the best banking services and solutions to each of our customer is more than ever. Our ‘right from the start’ approach involves putting our customers at the center of everything we do and developing a greater understanding of their businesses, needs, perspectives and behaviors to deliver reliable, dynamic and innovative banking services. This award is a testimony of the excellent all-round performance of the bank across all aspects of its operations.”
As the foremost bank in Oman, Bank Muscat has created an organization that centers on customers, rather than products and services, and continues to develop its internal capability to design the best customer experiences, and deliver tailor-made services. In the Corporate Banking segment, Bank Muscat’s Global Relationship Management Programme has made a significant difference in enhancing services and strengthening relations with its large base of clients. The bank is committed to supporting large governmental clients, institutions and corporates in smoothly transitioning towards efficient technology-focused processes. While the Bank was already well on its way to achieving the digital banking goals, the demands of the current environment have further spring-boarded these efforts. In fact, this emphasis has resulted in excellent growth in the value of transactions through the corporate payments and collections e-channels, which crossed RO 1.5 billion in the first nine months of 2020.
The bank has also been playing a vital part in several large-scale and key infrastructure projects. The key to Bank Muscat’s project finance proposition is the constant endeavour to add value to projects through innovative financial structuring, sectoral expertise and sound due-diligence techniques. The bank has been maintaining its emphasis in supporting feasible projects in core sectors including oil and gas, petrochemicals, telecoms, water and power, large-scale industry, shipping and aviation, hospitality and integrated tourism projects.
The bank also offers integrated funding solutions, covering the full spectrum of advisory, structuring and funding solutions including private placements and public offers and quasi-equity structured products for as equity solutions and debt syndications, DCM, subordinated debt, and preferred structures in conventional and Shari’a-compliant format as debt solutions. As a validation of its success, the bank’s investment banking department has been successfully advising and arranging funding worth billions of rials for its government and corporate clients over the past few years.
Bank Muscat has been consistently recognised on the international stage in line with its role as the leading financial services provider of the Sultanate. The bank has won a number of other accolades over the past few years, being awarded by top-rated international publications like The Banker, Global Finance and Euromoney time and again across multiple categories including in the ‘Best Bank in Oman’ category. In 2020, Bank Muscat was also listed by Forbes Middle East as one of the Top 100 companies in the Middle East.